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Ziggo, Liberty Global Back At The Deal Table

Dutch MSO Said Previous Liberty Global Bid Was ‘Inadequate’ 12/12/2013 10:05 AM Eastern

Dutch operator Ziggo said Thursday that it has renewed M&A talks with Liberty Global.

In a tersely worded statement, Ziggo said “it is currently in discussions with Liberty Global regarding a potential offer for the company by Liberty Global. Further announcements will be made if and when relevant. There is no certainty that any agreement can be reached or that any offer will ultimately be made.”

Word of the new round of talks come about two months after Ziggo, which has about 3.1 million customers in the Netherlands, said it had received an unsolicited bid from Liberty Global, but found the offer to be “inadequate.” Liberty currently owns a 28.5% stake in Ziggo.

The Wall Street Journal reported Thursday that a deal could value Ziggo at more than $8 billion.

If the latest talks turn into a deal, it would mark the latest step in Liberty Global’s ongoing attempts at consolidating the European cable market. Following its acquisition of U.K. operator Virgin Media, Liberty Global, the region’s largest MSO, has a total of about 25 million customers located principally in 12 European countries.

September